MIRA
INFORM REPORT
|
Report No. : |
348005 |
|
Report Date : |
04.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
VICTORE SHIPS LINE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
106, B Wing 1st Floor, Kurkreja Centre, Plot-13, Sector-11, CBD Belapur,
Navi Mumbai-400614, |
|
Tel. No.: |
91-22-27565155 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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|
|
Date of
Incorporation : |
22.02.2007 |
|
|
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Com. Reg. No.: |
11-168045 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs. 1.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U60231MH2007PTC168045 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Providing Logistic, Maritime Shipping and Cargo Services. |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 28000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 2007. It
has satisfactory track. The rating takes into consideration the decent increase in its revenue
base along with fair profit margin in FY14. However, the company has reported
minimal networth base but has comfortable debt level in the year under
consideration. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings with usual trade terms and conditions. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Vijay Kumar Yadav |
|
Designation : |
Director |
|
Contact No.: |
91-9320791793 |
|
Date : |
02.11.2015 |
LOCATIONS
|
Registered/ Corporate Office : |
106, B Wing 1st Floor, Kurkreja Centre, Plot-13, Sector-11, CBD
Belapur, Navi Mumbai-400614, Maharashtra, India |
|
Tel. No.: |
91-22-27565155 |
|
Mobile No.: |
91-9320791793 (Mr. Vijay Kumar Yadav) |
|
Fax No.: |
91-22-27560840 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Branch Office : |
Sai Chambers, Thane - 400614, Maharashtra, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Vijay Kumar Yadav |
|
Designation : |
Director |
|
Address : |
Sai Chembers, Sector-11, CBD Belapur, Navi Mumbai-400614,
Maharashtra, India |
|
Date of Appointment : |
22.02.2007 |
|
DIN No.: |
01784915 |
|
|
|
|
Name : |
Mr. Sanjaykumar Tansukhdas Panjwani |
|
Designation : |
Director |
|
Address : |
Baba
Niwas, Plot No. 87, Sector- 16, Kopar Khairne, Navi Mumbai-400709, Maharashtra, India |
|
Date of Appointment : |
31.12.2012 |
|
DIN No.: |
02370366 |
|
|
|
|
Name : |
Mr. Nirmala Rampratap Yadav |
|
Designation : |
Director |
|
Address : |
12 Punwasi Lane, Opposite China Mills, Tj Road Siwri,
Mumbai-400015, Maharashtra, India |
|
Date of Appointment : |
20.03.2014 |
|
DIN No.: |
06976009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Vijay Kumar Yadav |
14980 |
99.87 |
|
Brijeshkumar
Jivaram Mishra |
20 |
0.13 |
|
Total |
15000 |
100.00 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Logistic, Maritime Shipping and Cargo Services. |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
-- |
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Countries : |
-- |
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Terms : |
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Selling : |
Cash and Credit (30 days, 60 days and 90 days) |
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Purchasing : |
Cash and Credit (30 days, 60 days and 90 days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
20 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Bawejka and Kaul Chartered Accountants |
|
Address : |
406, Hilton Centre, Sector-11, CBDBelapur, Navi Mumbai-400614,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFB1274A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
· Victore Logistics Private Limited Victore Infomedia Private Limited Victore Traders West India Shipping Services |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.500
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1.500 |
1.500 |
1.500 |
|
(b) Reserves & Surplus |
8.310 |
5.379 |
4.188 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
9.810 |
6.879 |
5.688 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.845 |
4.278 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.845 |
4.278 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
4.866 |
8.232 |
8.826 |
|
(b)
Trade payables |
11.481 |
0.956 |
9.827 |
|
(c)
Other current liabilities |
3.070 |
2.513 |
1.374 |
|
(d) Short-term
provisions |
1.690 |
2.392 |
1.753 |
|
Total Current
Liabilities (4) |
21.107 |
14.093 |
21.780 |
|
|
|
|
|
|
TOTAL |
31.762 |
25.250 |
27.468 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.713 |
0.857 |
1.061 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.116 |
0.111 |
0.105 |
|
(d) Long-term Loan and Advances |
5.024 |
5.302 |
2.506 |
|
(e) Other
Non-current assets |
11.645 |
1.957 |
1.048 |
|
Total Non-Current
Assets |
17.498 |
8.227 |
4.720 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
10.711 |
12.223 |
17.176 |
|
(d) Cash
and cash equivalents |
0.180 |
0.056 |
0.101 |
|
(e)
Short-term loans and advances |
3.030 |
4.371 |
5.386 |
|
(f)
Other current assets |
0.343 |
0.373 |
0.085 |
|
Total
Current Assets |
14.264 |
17.023 |
22.748 |
|
|
|
|
|
|
TOTAL |
31.762 |
25.250 |
27.468 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
85.361 |
31.007 |
49.225 |
|
|
|
Other Income |
0.452 |
0.264 |
7.850 |
|
|
|
TOTAL |
85.813 |
31.271 |
57.075 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
82.197 |
30.087 |
55.664 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.616 |
1.184 |
1.411 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.685 |
(0.007) |
(0.104) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.931 |
1.191 |
1.515 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
195.4 |
79.4 |
101.0 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
100.000 |
|
|
|
|
|
The above information has been parted by Mr. Vijay Kumar Yadav
(Director)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from used in Operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.43 |
3.84 |
3.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.43 |
4.71 |
5.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37 |
0.17 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.50 |
1.20 |
1.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.68 |
1.21 |
1.04 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1.500 |
1.500 |
1.500 |
|
Reserves & Surplus |
4.188 |
5.379 |
8.310 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5.688 |
6.879 |
9.810 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
8.826 |
8.232 |
4.866 |
|
Total
borrowings |
8.826 |
8.232 |
4.866 |
|
Debt/Equity
ratio |
1.552 |
1.197 |
0.496 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
49.225 |
31.007 |
85.361 |
|
|
|
(37.010) |
175.296 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
49.225 |
31.007 |
85.361 |
|
Profit |
1.515 |
1.191 |
2.931 |
|
|
3.08% |
3.84% |
3.43% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10156412 |
09/01/2010 * |
8,000,000.00 |
IDBI BANK LIMITED |
CITY SME CENTRE,
NAVI MUMBAI, IDBI BANK BUILDING,, |
B06825517 |
* Date of charge modification
CHANGE OF ADDRESS
The Registered Office of the Company has been
shifted from 1101, B Wing 1st Floor, Kurkreja Centre, Plot-13, Sector-11, CBD Belapur, Navi
Mumbai-400614, Maharashtra, India to the present address.
FIXED ASSETS:
Tangible Assets
·
Plant and Equipment
Furniture
and Fixtures
Vehicles
Air Conditioner
Fridge
Water Cooler
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 65.45 |
|
|
1 |
Rs. 100.96 |
|
Euro |
1 |
Rs. 72.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared by
: |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.